{"id":17260,"date":"2024-03-14T12:07:04","date_gmt":"2024-03-14T11:07:04","guid":{"rendered":"https:\/\/www.worldpolicyconference.com\/?p=17260"},"modified":"2024-03-14T12:07:04","modified_gmt":"2024-03-14T11:07:04","slug":"past-policies-haunt-the-european-central-bank","status":"publish","type":"post","link":"https:\/\/www.worldpolicyconference.com\/fr\/past-policies-haunt-the-european-central-bank\/","title":{"rendered":"Past policies haunt the European Central Bank"},"content":{"rendered":"<p>By keeping interest rates steady, the European Central Bank may be hoping to tackle the impact of its poor past decisions.<\/p>\n<p class=\"has-drop-cap\">Last week, the European Central Bank (ECB) held a session where they chose to keep the key interest rates unchanged. This decision came as a disappointment to many who were hoping for a slight reduction, given that inflation seemed to be under control.<\/p>\n<p>However, the situation may not be that straightforward. Across the eurozone, unions are advocating for significant wage increases, with some demands in Germany reaching double-digit percentages. The costs of these wage hikes will likely be passed on to\u00a0<a href=\"https:\/\/www.gisreportsonline.com\/r\/wealth-inequality\/\" data-type=\"link\" data-id=\"https:\/\/www.gisreportsonline.com\/r\/wealth-inequality\/\">consumers<\/a>\u00a0to a certain extent, unless they are balanced by an increase in labor productivity. Unfortunately, productivity gains in the eurozone have been modest at best, hovering around 1 percent in recent years, and it is unrealistic to expect a sharp improvement soon.<\/p>\n<p>In the longer term, these persistently high levels of debt and staggering public\u00a0<a href=\"https:\/\/www.gisreportsonline.com\/r\/public-debt-us\/\" data-type=\"link\" data-id=\"https:\/\/www.gisreportsonline.com\/r\/public-debt-us\/\">deficits<\/a>\u00a0\u2013 fueled by excessive administrative spending and inefficiency \u2013 will lead to monetary destabilization and create potent inflationary pressures.<\/p>\n<p>It seems the ECB is beginning to acknowledge the genuine risk of inflation. The bank has been a significant enabler of public deficits through its extensive quantitative easing program, which contradicted its own guidelines. Now, it appears the bank is grappling with the consequences of its past actions.<\/p>\n<p>Read the article on the website of GIS<\/p>\n<p>https:\/\/www.gisreportsonline.com\/r\/ecb-inflation-2\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By keeping interest rates steady, the European Central Bank may be hoping to tackle the impact of its poor past decisions. Last week, the European Central Bank (ECB) held a<\/p>\n","protected":false},"author":3,"featured_media":14073,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[155],"class_list":["post-17260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-room","tag-155"],"_links":{"self":[{"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/posts\/17260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/comments?post=17260"}],"version-history":[{"count":0,"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/posts\/17260\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/media\/14073"}],"wp:attachment":[{"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/media?parent=17260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/categories?post=17260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/tags?post=17260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}